The post El Salvador’s Bitcoin Holdings Reach $644M with $357M Unrealized Profit appeared first on Coinpedia Fintech News
Bitcoin’s price momentum remains strong this month, with the market gaining approximately 8.69% so far. Today, Bitcoin even touched a high near $107,000—fueling excitement among crypto investors.
A key factor in this bullish trend is El Salvador’s bold Bitcoin investment strategy, which has generated impressive returns. Recently, El Salvador’s President Nayib Bukele revealed via an X post that the country’s Bitcoin holdings have yielded over $357 million in unrealized profit.
Let’s dive deeper into this developing story.
El Salvador’s Bitcoin Investment Strategy: Key Facts
El Salvador became the first country to adopt Bitcoin as legal tender in 2021, signaling its strong pro-crypto stance. According to El Salvador’s Bitcoin Office, the country currently holds 6,181 BTC, valued around $639 million at current prices.
El Salvador’s BTC Holdings: $357 Million Unrealized Profit
President Bukele’s recent X post confirmed the unrealized gains from their Bitcoin holdings:
“Our BTC holdings have generated over $357 million in unrealized profit.”
View Bukele’s post on X
With the BTC price around $102K per token, the total value of El Salvador’s holdings stands at roughly $644 million. The country’s initial investment was approximately $287.1 million, meaning their Bitcoin assets have grown by an incredible 124.4%.
Challenges Facing El Salvador’s BTC Strategy
Despite the gains, El Salvador faces hurdles:
- The country is negotiating a financial package with the International Monetary Fund (IMF), which requires limiting Bitcoin activities.
- A law was passed making Bitcoin usage voluntary for the private sector, not mandatory.
- Many global critics and some Bitcoin supporters have distanced themselves from El Salvador’s approach.
However, President Bukele remains firm in his commitment:
“If it didn’t stop when the world ostracised us and most ‘bitcoiners’ abandoned us, it won’t stop now, and it won’t stop in the future.”
What This Means for Bitcoin’s Future
El Salvador’s successful BTC investment highlights growing acceptance and confidence in Bitcoin as an asset and legal tender. Its experience could influence other countries considering similar moves, especially amid Bitcoin’s current bullish momentum.
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FAQs
El Salvador holds 6,181 BTC, acquired since it adopted Bitcoin as legal tender in 2021.
IMF demands to curb BTC use, private‐sector voluntary adoption, and global skepticism.
